The Euribor rate for three months dropped today to 1.939%, remaining below the six-month (2.034%) and 12-month (2.038%) rates.
The six-month Euribor, which became the most used in Portugal for variable rate housing loans in January 2024, increased slightly today, reaching 2.034%, up by 0.002 points from Tuesday.
According to Banco de Portugal (BdP) data for May, the six-month Euribor accounted for 37.75% of the stock of loans for permanent own housing with a variable rate.
The same data indicate that the 12-month and three-month Euribor rates represented 32.32% and 25.57%, respectively.
Over a 12-month period, the Euribor rate decreased, reaching 2.038%, down by 0.012 points.
Similarly, the three-month Euribor fell today to 1.939%, a decrease of 0.005 points from the previous session.
This week, a European Central Bank (ECB) monetary policy meeting is taking place today and Thursday in Frankfurt.
Investors are closely watching the ECB’s policy meeting this week, which is expected to maintain current rates. Attention is focused on whether President Christine Lagarde will provide any indication of future steps.
In the previous monetary policy meeting held on June 4th and 5th in Frankfurt, the ECB lowered interest rates by 0.25 points, bringing the main rate to 2%.
This reduction marked the eighth since the ECB began this series of cuts in June 2024 and is expected to be the last for this year, according to analysts.
Monthly averages for Euribor rates fell again in June for the two shorter terms, albeit less sharply than in previous months, with the most noticeable decrease over a three-month period.
Conversely, the 12-month Euribor monthly average remained at 2.081%.
In June, the three-month Euribor average decreased by 0.103 points to 1.984%, and the six-month average fell by 0.066 points to 2.050%.
The Euribor rates are determined by the average rates at which a group of 19 eurozone banks are willing to lend money to one another in the interbank market.
